What Happens If You Miss One Credit Card Payment

Paying your credit card bills (and other debt payments) on time is one of the most important factors in keeping up a good credit score. Plus, when you show creditors you have a track record of paying debts on time, you’re more likely to qualify for lower interest rates and fees. This could save you thousands of dollars over your lifetime.

But sometimes, missed payments happen. A gap in income, an unexpected expense, or just an overly busy schedule could all lead to a late or missed payment.

Being a few days late isn't the end of the world, though the late fees might sting. However, when you outright miss a payment—when it's more than 30 days late—you could see some pretty serious consequences to your credit.

If you miss more than one credit card payment in a row, that's likely a sign you need to make some big changes or even seek out debt relief. For example, if you have multiple credit cards and can’t afford the minimum payments, or you have credit cards that are seriously delinquent (60, 90, or 120+ days overdue).

Let’s look at what happens if you miss one credit card payment, and what it means for your personal finances. We'll also explore options if you're at risk of more than one missed payment.

Freedom Debt Relief isn't a Credit Repair Organization and doesn't provide, or offer services or advice to repair, modify, or improve your credit. 

If You Miss One Credit Card Payment: First 30 Days 

When your credit card bill is just a few days late—or, really, less than 30 days late—it's just late. As long as you have the money ready to go, missing a due date by a day, a week, or even a couple weeks is not yet a really big problem for your credit. It must be 30 days or more past due before it's reported to the credit bureaus.

If you miss your credit card due date by a few days, make a payment right away. You will likely owe a late fee or get charged a higher rate of interest as a penalty, according to your credit card company’s account agreement. If you're never paid late before, you could potentially get these consequences waived with a call to your issuer.

Besides whatever fees or penalties your issuer imposes, however, you should be fine. Your credit score shouldn’t be affected by one late credit card payment as long as you catch up with at least the minimum payment amount within 30 days of the due date. 

After 30 Days: When a Card Payment is Completely Missed 

The real impacts of a late credit card payment start to set in after 30 days from the due date. At this point, you've missed the payment entirely and your credit will now likely be involved.

If you don’t have enough money to pay the minimum on your credit card account and your payment is 30 days overdue, your credit card issuer will typically report your account as late or delinquent on your credit report. Missed payments tend to stay on your credit report for up to seven years. 

You may still be able to reverse the damage. If you can catch up right away—and you have an otherwise good payment history—you could potentially get your creditor to remove the missed payment from your credit. This isn't a guarantee, though.

How One Late Credit Card Payment Affects Your Credit Score 

Payment history makes up 35% of your FICO® Score, so even one late payment could have a big negative impact on your credit score. According to estimates from myFICO®, someone with Very Good credit might lose 63-83 points off of their FICO® Score after one payment that’s 30 days late. 

People who already have a lower credit score are likely to see a smaller number of points taken lost from one missed payment. But being 30 days late could drive your credit score into a lower range. For example, based on estimates from myFICO®, a person with a credit score of 607 might lose 17-37 points after one 30-day late payment. That could push a credit score from “Fair” to “Poor”—with big consequences on your ability to get approved for credit. 

What Happens if Your Late Credit Card Payment Goes Delinquent

Having trouble paying credit cards just one time doesn’t mean you’re in big financial trouble. Sometimes people forget to pay a bill or have a short-term loss of income. If money is tight and you miss one credit card payment, talk to your credit card company.

Your issuer might have a temporary financial hardship program that could help you weather a short-term financial issue. This could include paused payments or a temporary reduction in your interest rate.

But sometimes people have more serious financial difficulty. Once your credit card is 30 days late, your account is considered delinquent. The longer it remains unpaid, the more serious the situation becomes.

Being seriously delinquent on credit cards, with payments that are 60, 90, or 120 days late, can kick off a lot of consequences. A 60-day delinquent account can drop your credit score even more than one missed payment does. After 90 days of delinquency, your credit card could go to collections, and debt collectors might get in touch. 

And if your payment is late enough, such as after 120 days of delinquent status, your account goes into default. Being in default means your credit card company considers you to have broken your contract to repay the money you borrowed. At this point, your debt could be sold or you could even be sued for unpaid credit card debt. 

How to Deal With Overdue Credit Card Debt 

Being a bit late on one payment on a credit card doesn’t have to lead to serious consequences. Get caught up and come up with new ways to avoid late payments in the future.

Even missing one credit card payment entirely isn't the end of the world—or your credit. Your issuer may even work with you to undo the damage if you have a good payment history otherwise.

But if you've missed multiple payments or are struggling to meet minimums on more than one card, it's a strong sign you need to take action. This might include:

• A DIY debt repayment strategy, like a debt snowball or debt avalanche

• Credit counseling and a debt management plan 

• Refinancing your card debt with a debt consolidation loan

• Seeking debt settlement on your own or with a professional debt relief company

• Filing for bankruptcy with the help of a bankruptcy attorney

If you miss one credit card payment, it doesn’t have to become a big problem. But missing one credit card payment is sometimes a sign of bigger issues with your financial life that could use professional help. You still have options, though, and you don't have to do it alone.